Mariner buys $612 million Michigan RIA
The deal for Emerson Wealth, which is based in Bloomfield Hills, gives Mariner its second office in the Detroit area.
Mariner Wealth Advisors, an Overland Park, Kansas-based firm advising on more than $60 billion in assets, is acquiring Emerson Wealth, a Bloomfield Hills, Michigan-based RIA that oversees about $612 million in assets.
The deal is scheduled to close on May 31; terms were not disclosed.
Emerson Wealth, which was founded more than 30 years ago by Michael Emerson, has 159 clients and a team of seven.
“As we continue to enhance our growth strategies, joining one of the nation’s top wealth advisory firms will allow us to better serve our clients for years to come,” Emerson said in a statement.
Emerson will operate under the Mariner Wealth Advisors name once the acquisition closes. The deal gives Mariner its second office in the Detroit area. The firm now has 71 offices spread across 32 states.
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